Save BIG on Your 2023 Farm Taxes by Purchasing a Single-Purpose Agricultural Metal Building Now

Ark Custom Builders is dedicated to informing farm owners about significant tax savings opportunities, especially through Section 179 deductions. For the 2023 tax year, these deductions continue to offer substantial benefits, allowing you to deduct up to $1,160,000 on qualifying purchases. Moreover, you're eligible for a bonus depreciation of up to 80% of your purchase amount!

Understanding Section 179 Tax Deductions for Your Farm Thanks to the Tax Cuts and Jobs Act, Section 179 allows businesses to deduct the full purchase price of qualifying equipment or property acquired within the tax year. This means if you purchase a qualifying item by December 31, 2023, you can deduct the entire purchase price from your gross business income, plus an additional bonus first-year depreciation.

So, what's the bottom line? Investing in your farming business now with Ark Custom Builders can provide you with significant tax breaks for 2023! Normally, capital expense purchases are written off gradually through annual depreciation. Section 179, however, enables immediate full deduction of the purchase price in the year of purchase for qualifying items. This is a potentially huge tax break that small farm businesses should take advantage of.

Not all purchases qualify for a Section 179 deduction. To be eligible, the item must be primarily intended for business use and acquired by purchase in 2023. Section 179 applies to certain tangible property and equipment, excluding most real property like buildings and structural components. However, certain agricultural metal buildings do qualify!

Eligible Agricultural Metal Buildings from Ark Custom Builders While many buildings and structures don't qualify for this tax break, specific commercial steel buildings intended for farm and agricultural business use do! According to the current Farmer’s Tax Guide (IRS Publication 225), eligible single-purpose agricultural (livestock) or horticultural structures meet the requirements for a Section 179 deduction. These include structures designed for housing, raising, and/or feeding specific types of livestock or poultry, or commercial facilities for plant or mushroom production.

To ensure your building qualifies for the current Section 179 deduction, you must purchase your structure and put it into service by December 31, 2023.

Invest in a Metal Building from Ark Custom Builders for Your Farm Business Needs Ark Custom Builders can assist in designing, fabricating, and installing a steel facility perfect for Section 179-qualifying single-purpose livestock or horticultural functions. Whether it's for breeding poultry, livestock, egg production, dairy production, or commercial greenhouses, we've got you covered.

Contact our friendly and knowledgeable team at Ark Custom Builders by calling (828) 471-7771 today to start taking advantage of the 2023 Section 179 business tax break. We're not just about selling metal buildings; we're about providing shelter for your way of life. At Ark Custom Builders, what's central to you, is central to us.